Further rent rises recorded in August

According to recent figures released by LSL Property Services, August saw the largest monthly increase in rents.

The average rent in England and Wales rose by 1.2% to £713 the previous record high of £705 being in July

These represent the average rent is £27 pcm higher than in August 2010, with the average yield being 5.2%

In the South West overall rents rose by 1.3%, rents increased the fastest in Wales and the South East by 2.1% August is recognised as one of the busiest times of the year for renting property, and as demand heats up as a result of the stagnant first time buyers housing market.

Kevin Co x founder of Bristol letting agents igloolets.com said “The rental income and yields are attracting property investors to the market, rather than the capital gains on a property at the moment. But savvy and experienced landlords are in for the long haul, certainly property returns currently out way other forms of investments at this time”